China announced 5% to 10% tariffs on $60 billion worth of US goods today after the Trump administration said the US will impose 10% tariffs on an additional $200 billion in Chinese products. The US tariffs of 10% are set to rise to 25% at the start of 2019.
Clariant and SABIC will form a joint venture that combines their high-performance materials businesses. Clariant also announced it plans to sell its plastics and coatings operations by 2020.
DowDuPont has chosen James Collins and Marc Doyle to lead its Corteva Agriscience and DuPont segments, respectively, after the company splits into three companies next year. Jim Fitterling has already been announced as CEO of Dow upon completion of the materials science division's separation.
North American Free Trade Agreement talks between the US and Canada are expected to resume this week as negotiators look to reach a deal before the trilateral Sept. 30 deadline. "We will do the work needed and try and get there as quick as we can, but we are going to make sure that we are doing what is necessary to get the right deal for Canadians," said Canadian Prime Minister Justin Trudeau.
President Donald Trump signed the Miscellaneous Tariff Bill into law on Thursday, a win for US chemical manufacturers because chemicals account for about half of the more than 1,600 tariff reductions. The MTB does not roll back tariffs levied against China this summer, but it does suspend the normal tariff rate on several other inputs to US manufacturing. "By signing MTB into law, the president has affirmed his support for US chemicals manufacturers who rely on select foreign inputs to retain our position as the world's leading, low-cost producer of chemicals," said the American Chemistry Council.
DowDuPont has picked CEO Edward Breen to be executive chairman of its specialty products arm after it separates from Corteva Agriscience. The split should take place by June 1.
Fashion Institute of Technology assistant professor Theanne Schiros and others in her field are seeking new ways to produce textiles using live bacteria, algae, yeast and other materials. The textiles would be biodegradable and reduce waste streams associated with "fast fashion" styles.
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